I occasionally drive buy some of the junk properties I’ve wholesaled and months later nothing has been done.
First off, I thought they paid too much, then to just sit on these properties without making any repairs is
quite odd.
Do they think the value will rise soon? Are they willing to hang on to them for a decade or 2?
Are they waiting for the vagrants to burn them down to collect the insurance? Do they have enuf money to throw to the wind with the remote possibility it might pay off someday? Did they run out of money to rehab?
Do they know something I don’t?
What the heck is going on?
The Realtor I sold them too fast flipped them and the buyers name is an LLC with no contact info or I’d call and ask.
Hi,
When I used to fix and flip 30 or 40 homes a year we used to buy inventory anywhere from 6 to 18 months or more ahead of rehabbing them.
Since we were very efficient we planned the project out, created a materials list, determined which trades would be subbed and what our crews would do and then we selected only inventory with the probability to provide the biggest retail square foot price.
We had some properties in inventory we didn’t get to for 25 or 30 months as I said earlier we only fixed and flipped inventory that would produce the highest dollar return.
GR